906 S Fann Street, Anaheim, California 92804, Anaheim, 92804 - bed, bath
ACTIVE$2,100,000
906 S Fann Street, Anaheim, California 92804
0Bed
0Bath
4,566Sqft
6,312Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Income Upside: Units are currently under market rent, offering substantial potential for increased cash flow and return on investment with a conservative Pro Forma of $191,000 for 7 units (implying $382,000 for 14 units).
Top Cons:
Age of Property & Potential System Upgrades: Built in 1960, the buildings are over 60 years old, implying that major systems (e.g., plumbing, electrical) beyond the roof may be original and require significant future capital investment.
Compared to the nearby listings
Price:$2.10M vs avg $2.10M (+$0)50%
Size:4,566 sqft vs avg 5,644 sqft40%
Price/sqft:$460 vs avg $40460%
More Insights
Built in 1960 (65 years old).
Condition: The property was built in 1960, making it 64 years old. While the roof is a recent update (4 years old) and some units feature updated laminate flooring, the visible kitchen in the images appears dated with older cabinetry and basic finishes. There are no images of the bathrooms, but it's highly probable they are similarly outdated. The electrical panel also appears to be original or very old. The absence of central air conditioning is a notable drawback. The property is functional and appears maintained, but requires minor to substantial updates to kitchens, bathrooms, and potentially other major systems to meet current quality standards and tenant expectations.
Year Built
1960
Close
-
List price
$2.1M
Original List price
$2.3M
Price/Sqft
$460
HOA
-
Days on market
-
Sold On
-
MLS number
PW25025300
Home ConditionFair
Features
Patio
ViewCourtyard
About this home
Excellent opportunity to own 14 units in Prime Anaheim rental location! This property is 7 units and is being sold with the mirror-match building next door also with its 7 units. 902 Fann and 906 Fann are being sold together. each building has 7 units; 3 2-bedroom units and 4 1-bedroom units, each unit has a 1 car garage. each unit has separate gas and electric meters. The roof is 4 years old. All units are under market rent but there is still $121,260 in annual income for 7 units with a conservative Pro Forma of $191,000. Located 1 block to Euclid and Ball with many restaurants and also public transportation. The building also has a coin operated laundry facility that generates income. Excellent curb appeal will make you proud when you drive by and check out the jewel in your investment portfolio!.
Condition Rating
Fair
The property was built in 1960, making it 64 years old. While the roof is a recent update (4 years old) and some units feature updated laminate flooring, the visible kitchen in the images appears dated with older cabinetry and basic finishes. There are no images of the bathrooms, but it's highly probable they are similarly outdated. The electrical panel also appears to be original or very old. The absence of central air conditioning is a notable drawback. The property is functional and appears maintained, but requires minor to substantial updates to kitchens, bathrooms, and potentially other major systems to meet current quality standards and tenant expectations.
Pros & Cons
Pros
Significant Income Upside: Units are currently under market rent, offering substantial potential for increased cash flow and return on investment with a conservative Pro Forma of $191,000 for 7 units (implying $382,000 for 14 units).
Prime Rental Location: Situated in a desirable Anaheim area, just one block from Euclid and Ball, providing excellent access to restaurants and public transportation, ensuring strong tenant demand.
Individual Unit Features: Each of the 14 units benefits from separate gas and electric meters and a dedicated 1-car garage, enhancing tenant appeal and reducing landlord utility costs.
Recent Major Capital Improvement: The roof is only 4 years old, minimizing immediate capital expenditure concerns for a new owner regarding this significant component.
Additional Income Stream: The property includes a coin-operated laundry facility, providing supplementary revenue beyond rental income.
Cons
Age of Property & Potential System Upgrades: Built in 1960, the buildings are over 60 years old, implying that major systems (e.g., plumbing, electrical) beyond the roof may be original and require significant future capital investment.
Realizing Income Upside Requires Active Management: While units are under market rent, achieving the projected pro forma income will necessitate active management, potential unit renovations, and tenant turnover, which involves time and additional capital.
Unspecified Cooling System: The listing does not mention any cooling system, which could be a significant tenant deterrent in Anaheim's climate and may necessitate future installation, adding to capital expenditure.